Cardano (ADA) – Is this a good time to buy ADA?

Cardano chances in a bearish crypto market

Like the rest of the market, Cardano is in the red today. It is currently trading at around $0.074 and has been quite bearish for some time now. With such a bearish sentiment and the fact that Cardano is still a work-in-progress, it’s only natural for an investor to wonder, is Cardano a worthy investment?

To answer this question, one needs to look at Cardano (ADA)’s core fundamentals, as well as the factors that have contributed to its drop all along. Starting with its core fundamentals, Cardano is building one of the most solid platform blockchains in the market. For starters, Cardano (ADA) has one of the most scalable blockchains in the market, all thanks to Ouroboros, Cardano’s scientifically proven POS algorithm. Since scalability is the biggest bottleneck to the adoption of blockchain, it is logical to conclude that Cardano will grow fast going into the future.

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On top of that, Cardano (ADA) also has a strong team behind it, one that is willing to go the extra mile to see that the project succeed. Recently, there were issues with the performance of the Cardano foundation. IOHK and Emurgo took swift action to mitigate any bad press that might have arose from this, and Charles made it clear that they could take up the roles of the foundation with ease. That’s the kind of dedication that makes for a successful blockchain. The Cardano team especially Emurgo is also quite proactive in looping in talent to create Dapps on Cardano, a factor that will play a significant role in the growth of Cardano in the long-run. In essence, from a fundamentals perspective, Cardano has a good future, one that could be quite rewarding in the future.

Besides that, the value of Cardano has been affected by factors that have nothing to do with Cardano (ADA). Cardano’s drop for the last 9 months is directly linked to bitcoin’s drop. Cardano is heavily tied to bitcoin (BTC), and this means that its drop in the market has nothing to with Cardano’s core fundamentals. If anything, it makes Cardano (ADA) a good buy because even as its price drops, its fundamentals have been getting better. This means that in the long-run, the value of Cardano (ADA) could shoot up significantly going into the future.

Looking at Cardano (ADA) in the day, its drop and that of the rest of the rest of the market can be linked to the drop in the stock markets. The crypto market is heavily correlated to the stock markets, as has been seen in the last one month. As such, today’s losses in the stock markets have reflected in the crypto markets as well. This explains why Cardano (ADA) has dropped today.

The moment it rebounds, the value of Cardano and most other cryptos will rebound as well. Once the markets stabilize, Cardano (ADA) stands to have the most growth going into the future. Therefore, Cardano does make sense to hold as a long-term investment. Its chances of growth are quite high in this market, especially now that its price is quite depressed.

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